Alliancebernstein L.P. Boosts Stock Holdings in Charter Communications, Inc. $CHTR

Key Points

• Alliancebernstein L.P. increased its holdings in Charter Communications by 6.9%, bringing its total to 184,787 shares, valued at approximately $68.1 million.
• A significant number of hedge funds made adjustments to their positions in Charter Communications during the first quarter, with 81.76% of the stock currently owned by institutional investors.
• Charter Communications reported earnings of $9.18 per share for the last quarter, falling short of estimates and reflecting a 0.6% year-over-year increase in revenue.

Alliancebernstein L.P. lifted its holdings in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,787 shares of the company's stock after purchasing an additional 11,911 shares during the period. Alliancebernstein L.P. owned about 0.13% of Charter Communications worth $68,100,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SouthState Corp bought a new stake in shares of Charter Communications during the 1st quarter worth $25,000. ST Germain D J Co. Inc. raised its stake in shares of Charter Communications by 1,283.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock worth $31,000 after purchasing an additional 77 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Charter Communications by 93.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 85 shares of the company's stock worth $31,000 after purchasing an additional 41 shares during the period. Strengthening Families & Communities LLC bought a new stake in shares of Charter Communications during the 1st quarter worth $33,000. Finally, Larson Financial Group LLC raised its stake in shares of Charter Communications by 70.2% during the 1st quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 40 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Balan Nair purchased 360 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the transaction, the director directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. This represents a 3.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the transaction, the chief executive officer owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This trade represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.83% of the company's stock.

Charter Communications Trading Up 0.8%

Shares of CHTR opened at $261.50 on Friday. The business's 50-day moving average price is $318.13 and its 200-day moving average price is $355.79. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The stock has a market cap of $35.72 billion, a PE ratio of 7.16, a P/E/G ratio of 0.59 and a beta of 1.02. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same quarter in the prior year, the company earned $8.49 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wolfe Research upgraded Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Royal Bank Of Canada lowered their price objective on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday, July 28th. Arete Research upgraded Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Sanford C. Bernstein upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price objective on the stock in a research note on Monday, July 28th. Finally, UBS Group lowered their price objective on Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $394.61.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.

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